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SPAC Nation

Part of the debate – in the House of Commons at 9:28 pm on 8th January 2020.

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Photo of Siobhain McDonagh Siobhain McDonagh Labour, Mitcham and Morden 9:28 pm, 8th January 2020

On SPAC Nation and the financial implications of some of its dealings, my hon. Friend will be aware of the case of the late Mrs Osinlaru, who seems to have obtained a £150,000 secured loan on her house. Tragically she passed away, leaving her two young adult daughters and 13-year-old son in the house, unaware of this control over it. The house was later repossessed and a bailiff’s warrant secured, but that was stopped only because of the presence of the young 13-year-old son. That family risk losing their home and becoming homeless because of a loan they did not know about, and their mum has passed away. I have written to the Church and it has admitted that it was involved in securing, or helping to secure, that loan. Does that give my hon. Friend further cause for concern?